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Sarmalice Co, issued $4,000,000 of 5 -year, 10% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%. Determine the present value

Sarmalice Co, issued $4,000,000 of 5 -year, 10% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%. Determine the present value of he bonds payable using the present value tables. Round to the nearest dollar

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